RBI achieves these objectives by buying USD when the US Dollar is weaker and selling them when they are stronger. Between May 2020 and September 2021, when the USD was weakening, RBI bought around $158 billion in spot and onshore forwards.
The Indian rupee weakened to a historic low of 87.35 against the U.S. dollar, influenced by expectations of an impending rate cut by the Reserve
The customs duty had about 550 crore estimated impact when the announcements came in July and it is by and large played out to that
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